BEIJING, July 2 (Xinhuanet) -- Cameron and Tyler Winklevoss, who were known for battling Mark Zuckerberg over ownership of Facebook, announced on Monday to form an exchange-traded fund (ETF) for bitcoin.
The Winklevoss Bitcoin Trust has confirmed that it was filing the plan with the U.S. Securities and Exchange Commission.
It will sell about 20 million U.S. dollars worth of shares, each of which will represent a fraction of a bitcoin.
Bitcoin is an electronic cash system first described by pseudonymous developer Satoshi Nakamoto in 2008.
As it can be transferred through computers or smartphones without an intermediate financial institution, bitcoin is now accepted in trade by merchants and individuals in many parts of the world.